Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The condition of the child injured in the firing at Hyderabad's Sandhya theatre on December 4 ahe
In India, Corona is making records every day and for three consecutive days, the daily case figur
Amidst the Lok Sabha elections, there were speculations that Congress leader Priyanka Gandhi woul
Posters against Kejriwal are now in Delhi, CM said - those who put up posters should not be arrested
The phase of the poster war between the BJP and Aam Aadmi Party has started in the national capit
A layer of haze enveloped Delhi on Saturday morning and the air quality in the city inched near t
New Delhi: The RT PCR test of the coronavirus has been made mandatory for all people returning to
Politician Tajinder Singh Bagga is currently seen in Salman Khan-hosted reality show 'Bigg Boss S
Asteroid many times bigger than Qutub Minar coming close to Earth at a speed of 76 thousand kmph
A giant-sized asteroid (Asteroid (7335) 1989 JA) is going to pass close to Earth on Friday. Due t
The consecration of Ram Lalla in the grand temple in Ayodhya on January 22 is going to be a very
Prime Minister Narendra Modi arrived in Mauritius on Tuesday on a two-day state visit. PM Modi wa
